Imagine you’re a small business owner going through your day when you receive a call from someone named Tom, claiming to be with Small Business Lending. Tom informs you that you have an open account and are pre-approved for a substantial credit line. This seemingly helpful call is actually part of a deceitful scam targeting small business owners. In this blog, we’ll dive into the details of this scam, why it’s so dangerous, and how you can protect yourself using YouMail.
In this article, we cover:
- The details of the Tom With Small Business Lending Scam Call
- Why the Tom With Small Business Lending Scam Call is dangerous
- How to protect yourself from the Tom With Small Business Lending Scam Call
The Details of the Tom With Small Business Lending Scam Call
The Tom with Small Business Lending scam call is a cunning scheme where scammers pose as representatives from a legitimate-sounding business lending company. They inform victims that they have an open account with pre-approval for a credit line, creating a sense of urgency and opportunity. This scam was first detected in July of 2023. It predominantly targets small business owners in states like Georgia, California, Texas, New Jersey, and Florida.
Actual audio of the Tom With Small Business Lending Scam Call
“Hi, this is Tom with Small Business Lending. I was calling to remind you that you had an open account with us. Your company had it in the middle of last year, and you had been pre-approved for up to $150,000 business credit line. That was for working capital or equipment funding. Just wanted to touch base with you and see if you had a need at this time, for either. You can give me a call at (888) 520-8274. Once again, that is (888) 520-8274. It was regarding the pre-approval of 150,000 that we had for your company. you do have an open account with us, and it looks like it’s set to expire shortly. So give me a call. either way, I just wanted to touch base (888) 520-8274. Thank you.”
Why the Tom With Small Business Lending Scam Call is Dangerous
This scam is particularly dangerous because it exploits the trust and needs of small business owners. By posing as a legitimate lending institution and offering a significant credit line, scammers deceive victims into providing sensitive business and financial information. The false pretense of an open account and impending expiration of the offer adds pressure, prompting quick action without thorough verification.
The scam’s sophistication and its ability to create a sense of urgency make it highly effective in extracting valuable information from unsuspecting business owners. With a fraud score of 0.7, this scam poses a significant threat, especially in states like Georgia, California, Texas, New Jersey, and Florida.
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How to Protect Yourself From the Tom With Small Business Lending Scam Call
To safeguard yourself from the Tom with Small Business Lending scam call, follow these steps:
- Verify the Source: Always verify the legitimacy of the call by contacting the company directly through their official website or known contact numbers.
- Avoid Sharing Information: Never provide sensitive business or financial information over the phone unless you are certain of the caller’s identity.
- Use Call-Blocking Tools: Implement call-blocking tools like YouMail to filter out potential scam calls and protect your business.
YouMail can help detect and block these fraudulent calls, ensuring your business remains secure. By staying informed and cautious, you can prevent scammers from exploiting your trust.
Find out more about Fraudulent Scams Exploiting Popular Brands at the YouMail Robocall Scam Guide
To protect yourself from the Tom With Small Business Lending Scam Call, download YouMail today.
